TC2000 Help SiteTrading Stocks & Options Trading StocksHow to Use the Standard Order Ticket (Equities)

How to Use the Standard Order Ticket (Equities)

Trading from the standard, more traditional, order ticket is available in TC2000. This article will review each item on the order ticket to aid in using it effectively.

1. Click the Buy/Sell button at the top of the chart

For this review we will select the Buy button

2. Select the desired order type

For this review we will select the Limit order type

3. This opens the standard order ticket.

Note: the details for how this order is placed on the chart is based on your default order ticket settings. For more on how to set these defaults Click Here.

4. The order ticket contains all details for setting up/editing the order.

Estimated cost of order is on the order ticket.

Order Type-- click to set order type (Lmt is set because that was chosen when the order was selected). Order type can be changed from the drop down. For more on these order types, Click Here.

Limit Price--click to open the menu for setting the basis of the limit order

Spinner--lets you adjust the limit price. Alternately, just highlight the price and type a new price in. Actual price is just below the field.

Select a specific price point from the list (notice the current Bid/Ask prices are noted in the list)

Select Dollars or Percent as the basis for the set up

Set desired basis by clicking on the button

  1. Market is current market price
  2. Ask + the current ask price plus the offset
  3. Ask the current ask price
  4. Ask -  the current ask price minus the offset
  5. Midpoint  the midpoint between the current bid and ask
  6. Bid +  the current bid price plus the offset
  7. Bid  the current bid price
  8. Bid -  the current ask price minus the offset
  9. Offset set the amount of the offset desired (will be + or -)

Set "Step to" order

  1. Step to Market step from starting point to current Market price
  2. Step to Ask + step from starting point to current ask price + offset
  3. Step to Ask step from starting point to current ask price
  4. Step to Mid step from starting point to current ask price - offset
  5. Step from set the starting point for steps (either bid or midpoint)

Quantity -- click to set the desired quantity for the order

  1. Number of shares --actual number of shares desired
  2. Dollar value -- amount of money to spend on the order (program will select number of shares closest to the amount selected)
  3. Percent of Buying power -- set a percent of the Buying Power in the account (buying power is the total cash plus the maximum margin available)
  4. Percent of Cash -- set a percent of the available cash in the account

Duration -- click to select either day order (good only in current active session); GTC (good til canceled; order stays in effect until filled or canceled by user); Immediate or Cancel (fill any part of the order immediately or cancel the whole order); Fill or Kill (fill the full order quantity immediately or cancel the whole order)

More -- click to select either or both of 2 choices

  1. Allow outside Regular trading hours (allows the order to be filled in either pre- or post-market extended hours trading. For more on pre/post markets Click Here.)
  2. All or None -- places the order for a specific quantity which must be filled. Does not allow partial fills.

OCA (Once Cancels All) -- click to add the order to

  1. An existing OCA
  2. Create an OCA with any other single order.

Contingent Orders -- click to set contingent orders (OTA, one triggers all) for sell/profit target. (Click more than one tick box to set up a bracket of a stop and target. Click Here for more on how.)

  1. Attach Profit Target -- place an order based on a projected potential gain
  2. Attach Stop -- place an order based on a projected potential loss
  3. Attach Trailing -- place an order based on a projected potential loss that automatically tracks increasing price by the selected %

Note: click on the x% to change the default percentage basis for the target/stop.

Delete -- click to Cancel button to close order ticket and not place the order.

Switch Order Ticket -- click to change from the standard order ticket to the on-chart order ticket. The settings in the on-chart will carry over. (Alternately, click the TraderSlider button).

5. Click "Buy {sym}" to place the order as set up in the ticket

Confirmation screen will display order as set. Click Place Order to submit the order.

Confirmations can be disabled for one-click order. Click Here to learn how.

6. Order now exists on the chart until filled.

Click and drag the blue limit line to modify the order. (Click Here for more on modifying orders.)

Click the delete icon (x) to cancel the order.